Latvia to reinstate gambling taxes

Latvia will reinstate taxes to help a culture foundation. Credits: Datafloq

The government decided to finance a foundation through a percentage of gambling taxes.

Latvia.- The government of Latvia announced that it will reinstate “sin taxes” charged on gambling in order to finance the State Culture Capital Foundation, a national endowment that sponsors culture projects.

The Representatives of the Cabinet of Ministers from Latvia said that the measure that will start in 2022 will give the foundation 1.37 per cent of lottery tax and 2.21 per cent of gambling tax. The government will still provide its annual subsidy from 2019 too 2021.

The financing scheme has been changed after hearing the culture ministry’s report that outlined four possible options. Gambling taxes will offer funding to Latvia’s culture, which is something that the current government has promised to improve.

The new scheme comes after years of Representatives of creative industries asking for an independent financing model for the State Culture Capital Foundation.